• Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 10/10/2013

Clarified offsetting requirements and central clearing for banks 

In a rapidly changing regulatory environment, banks continue to face challenges in assessing the impact on their accounting.

One such area is in applying financial instruments accounting to central clearing arrangements. Banks may need to consider the impact of the recently clarified offsetting requirements in IAS 32 Financial Instruments: Presentation, and those acting as intermediaries need to determine whether they are acting as ‘principal’ or as their clients’ ‘agent’.


Meanwhile, the IASB reached several important tentative decisions in September on the impairment, classification and measurement of financial instruments, which will be key to the future of IFRS 9 Financial Instruments.

IFRS Newsletter: Banking - issue 11, Q3 2013

Feature image
Q3 2013 issue of our quarterly banking newsletter in which we provide updates on IFRS developments that directly impact banks.

© 2014 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB


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